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Jan 02 2013

Warren Buffett Profits From Fiscal Cliff Deal

If you are unlucky enough to be a normal American, your take-home pay will most likely go down as a result of Boehner et al.’s capitulation to the Taxer and Spender in Chief. That’s because you don’t have a seat at the table, like Hollywood — and like the deafeningly sanctimonious advocate of higher taxes Warren Buffett.

As ABC reports, the bill includes

$331 million for railroads by allowing short-line and regional operators to claim a tax credit up to 50 percent of the cost to maintain tracks that they own or lease.

A relevant earlier report from Bloomberg reveals:

Warren Buffett’s Berkshire Hathaway Inc. (BRK/A) plans to boost capital spending at its railroad to $3.9 billion this year, an increase of 11 percent from 2011, as the company adds capacity for coal shipments. …

The railroad’s plan calls for $400 million in terminal, intermodal-expansion and efficiency projects, including on coal routes. The rail serves mines in the Western U.S., including Wyoming’s Powder River Basin, which holds the largest and cheapest U.S. reserves of the power-plant fuel.

It has been suggested that Buffett’s financial interest in transporting fuel by rail also explains his crony Obama’s otherwise incomprehensible opposition to the Keystone XL pipeline.

If this surprises you, welcome to the sordid reality of liberal class warfare politics, by which the rich get richer when they convince idiots to hate them.

obama-buffett
Buffett wins medal for Exemplarily Corrupt Crony Capitalism.

On a tip from Ghost of FA Hayek.

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  • Ummah Gummah

    .

    I heard somewhere that Obama liked his men “old and white”. Buffet is pretty darn old and even more white.

    Still, I think the wonderboy could’ve gotten his rocks off for slightly less than that.

    .

  • Ghost of FA Hayek

    I wonder if he is mistaking the dandelion wine on Buffett’s breath for Muskatel

  • http://reaganiterepublicanresistance.blogspot.ca Reaganite Republican

    That’s how Mussolini’s crony capitalism model is serving Obama so well, he’s simply lured the least principled businesspeople in the country away from the GOP by giving them boatloads of our money

  • StanInTexas

    Ah, yes… The Buffet Plan in action.

    Thanks, all you spineless Republicans!

  • IslandLifer

    I say let it burn. Then throw fuel on the fire.

  • Pingback: ConMom

  • http://newrebeluniv.wordpress.com Professor Hale

    Wait. Isn’t maintenance and capital improvements in a business already 100% tax deductable? I’m not up on my railroad tax law. Is that in addition to the 50% tax credit?

  • Anonymous

    If you’re not at the table, you’re on the menu.

  • SouthTexas

    Of course you will not see any of this on the evening news.

  • fading banana republik

    Comrade Saint Buffet won’t be affected by any of the soak the rich class warfare. The keystone pipeline was cancelled because Comrade Saint Buffet sends the oil south via his railroad.

  • Antisocialist

    Wow he gets a medal and then he dies and goes to hell.
    Wonder if he will cherish the medal then?

  • Antisocialist

    Another thing, notice the old faggot didn’t even comb his hair, you’d think for the special occassion he’d at least brush his hair.

    Dude looks like some poor old mental patient.

    Much like the President of the EU, Mr.Pig-Eye Rumpguy:
    https://alannothnagle.files.wordpress.com/2010/02/herman_van_rompuy_portrait.jpg

  • Lady Liberty

    Warren is a perfect example of a Crony Capitalist

    Buffett’s Betrayal

    snip

    A good chunk of his fortune is dependent on taxpayer largess. Were it not for government bailouts, for which Buffett lobbied hard, many of his company’s stock holdings would have been wiped out.

    http://blogs.reuters.com/rolfe-winkler/2009/08/04/buffetts-betrayal/

    How Buffett Saves Billions On His Tax Return

    http://www.forbes.com/sites/greatspeculations/2011/08/17/how-buffett-saves-billions-on-his-tax-return/

    Warren Buffett Is A Punk

    Meanwhile, Buffett has given each of his kids a charitable foundation with billions each to manage. If a foundation has $3bb in it, then something like $90mm can go to salaries.

    http://techcrunch.com/2012/05/12/warren-buffett-is-a-punk/

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